>Yes, greater transparency is the mantra of neo-liberal financial
>reform. The Fed
>usually presents arguments for greater flexibility (and thus less
>transparency)
>for the sake of easing; but when the archives open we usually find that their
>real concern was for how to tighten. The official word is that they are
>investigating the kinds of things everyone keeps telling the Bank of Japan to
>try: Direct intervention in the FX market, "operation-twist" style
>purchases of
>long-dated bonds, saturation of the market with reserves, writing options on
>long-term interest rates, etc.
Hey, good thing the economy's recovering - they won't need to do any of this (assuming they haven't already)!
Doug